Private-equity firm to pay $120.5 million for Calgary-based arm

Investment Technology Group Inc. has agreed to sell its Calgary-based energy research group to private-equity firm Warburg Pincus for $120.5 million in cash.

The energy group provides research on companies operating in North American and international energy plays. ITG will continue to provide the energy research to its institutional clients, while Warburg Pincus plans to relaunch the business under a new name and boost its products.